2,919 Shares in Construction Partners, Inc. (NASDAQ:ROAD) Purchased by Voya Financial Advisors Inc.

Voya Financial Advisors Inc. acquired a new position in Construction Partners, Inc. (NASDAQ:ROAD) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 2,919 shares of the company’s stock, valued at approximately $203,000.

Several other large investors have also added to or reduced their stakes in the company. State Street Corp boosted its position in shares of Construction Partners by 2.7% during the third quarter. State Street Corp now owns 1,004,867 shares of the company’s stock valued at $70,140,000 after buying an additional 26,189 shares during the period. Stifel Financial Corp boosted its holdings in shares of Construction Partners by 3.4% in the third quarter. Stifel Financial Corp now owns 108,132 shares of the company’s stock valued at $7,548,000 after purchasing an additional 3,513 shares during the period. Benjamin Edwards Inc. raised its holdings in Construction Partners by 8.7% in the third quarter. Benjamin Edwards Inc. now owns 7,419 shares of the company’s stock worth $518,000 after purchasing an additional 594 shares in the last quarter. Fred Alger Management LLC acquired a new stake in Construction Partners in the third quarter worth about $16,535,000. Finally, Walleye Capital LLC purchased a new stake in shares of Construction Partners in the 3rd quarter valued at $228,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Insider Transactions at Construction Partners

In other news, Director Charles E. Owens sold 49,695 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $100.81, for a total transaction of $5,009,752.95. Following the completion of the sale, the director now owns 130,291 shares in the company, valued at $13,134,635.71. The trade was a 27.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 18.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ROAD. DA Davidson upped their price target on shares of Construction Partners from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Stifel Nicolaus lifted their target price on Construction Partners from $61.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Robert W. Baird raised their price objective on shares of Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Raymond James boosted their price objective on shares of Construction Partners from $69.00 to $72.00 and gave the company a “strong-buy” rating in a research report on Monday, August 12th. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.00.

Construction Partners Trading Up 2.6 %

Shares of NASDAQ ROAD opened at $101.86 on Friday. Construction Partners, Inc. has a 52 week low of $39.79 and a 52 week high of $103.69. The business has a 50 day simple moving average of $85.01 and a 200 day simple moving average of $68.77. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.54. The stock has a market cap of $5.69 billion, a price-to-earnings ratio of 77.17, a PEG ratio of 1.21 and a beta of 0.70.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings data on Thursday, November 21st. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.01). The company had revenue of $538.16 million during the quarter, compared to the consensus estimate of $538.04 million. Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.59 earnings per share. On average, research analysts predict that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

About Construction Partners

Construction Partners, Inc, a civil infrastructure company, constructs and maintains roadways in Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee. The company provides various products and services to public and private infrastructure projects, such as highways, roads, bridges, airports, and commercial and residential developments.